A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are signaling lower start on Wall Street today. Futures on the Dow Jones Industrial Average lost 29 points to 11,347.00 and S&P 500 futures fell 5.70 points to 1,217.30. Nasdaq 100 futures dropped 7.25 to 2,177.50. A Peek Into Global Markets Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.11%, London's FTSE 100 Index moved down 0.35%. Most of the Asian markets ended in the positive territory, with Japan's Nikkei Stock Average adding 1.11%, Australia's S&P/ASX 200 moving down 0.36% and China's Shanghai Composite gaining 0.96%. Broker Recommendation Jefferies & Co. is downgrading The Macerich Company MAC to Hold from Buy, but is raising its price target to $49 from $46.50. It cites valuation as the reason for the downgrade. In a note to clients, Jefferies states, "MAC's core strength is redeveloping neglected, worn down regional malls in attractive locations into state of the art Class A malls. While redevelopment plans are in the works, the earnings benefit will not be realized for at least the next 3 - 5 years." Shares of MAC gained 37 cents yesterday to close at $49.40, a gain of 0.75%. Breaking news

• Houston, Texas based independent oil and natural gas company ATP Oil & Gas Corporation ATPG on Monday morning released financial results that failed to meet Wall Street expectations. To read the full news, click here.
• Tesco Corp TESO reports its Q3 EPS at $0.08, beating the consensus of $0.06. To read the full news, click here.
• Santa Clara, California based biopharmaceutical company XenoPort, Inc. XNPT released financial results on Monday morning that were in line with Wall Street earnings estimates. To read the full news, click here.
• Indianapolis, Indiana based Republic Airways Holdings, Inc. RJET on Monday morning released financial results. To read the full news, click here.

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